Canada policy interest rate
Bank of Canada target for the overnight rate, the Bank's policy interest rate, set on eight fixed announcement dates per year.
| Current value | 2.25 percent |
|---|---|
| In force from | 2025-10-29 |
| Official source | Bank of Canada, Fixed Announcement Date press release 15 July 2026, 'Bank of Canada maintains the policy rate at 2¼%' (decision under the Bank of Canada Act, RSC 1985, c. B-2); rate level set by the FAD press release of 29 October 2025 |
| Last verified | 2026-07-20 |
| Verification | primary — No verification limitation recorded — read from the official source cited. |
| Provenance | source fingerprint |
What this value means
The 15 July 2026 release states verbatim: 'The Bank of Canada today held its target for the overnight rate at 2.25%, with the Bank Rate at 2.5% and the deposit rate at 2.20%.' effective_from is 2025-10-29, the date of the last CHANGE (a 25 bp cut from 2.50% to 2.25%), not the date of the most recent reaffirmation — the Bank has since held at 2.25% at all SIX subsequent fixed announcement dates: 10 December 2025, 28 January 2026, 18 March 2026, 29 April 2026, 10 June 2026 and 15 July 2026. The full 2026 FAD schedule published by the Bank in August 2025 is 28 January, 18 March, 29 April, 10 June, 15 July, 2 September, 28 October and 9 December, with the Monetary Policy Report released alongside the January, April, July and October decisions. Canada's operating band is 25 bp wide: the Bank Rate (upper limit, standing liquidity facility) is the target +25 bp = 2.50%, and the deposit rate (lower limit, remuneration on settlement balances) is 2.20% — 5 bp below target, a spread the Bank narrowed from the earlier target-minus-25bp convention. The target for the overnight rate is the correct headline policy rate; do not substitute the Bank Rate. Next scheduled fixed announcement date: 2 September 2026. bankofcanada.ca serves clean HTML and is reliably fetchable.
Earlier values
| From | Value | Source |
|---|---|---|
| 2018-01-01 | 1 | Bank for International Settlements - Central Bank Policy Rat |
| 2018-01-17 | 1.25 | Bank for International Settlements - Central Bank Policy Rat |
| 2018-07-11 | 1.5 | Bank for International Settlements - Central Bank Policy Rat |
| 2018-10-24 | 1.75 | Bank for International Settlements - Central Bank Policy Rat |
| 2020-03-04 | 1.25 | Bank for International Settlements - Central Bank Policy Rat |
| 2020-03-16 | 0.75 | Bank for International Settlements - Central Bank Policy Rat |
| 2020-03-27 | 0.25 | Bank for International Settlements - Central Bank Policy Rat |
| 2022-03-03 | 0.5 | Bank for International Settlements - Central Bank Policy Rat |
| 2022-04-14 | 1 | Bank for International Settlements - Central Bank Policy Rat |
| 2022-06-02 | 1.5 | Bank for International Settlements - Central Bank Policy Rat |
| 2022-07-14 | 2.5 | Bank for International Settlements - Central Bank Policy Rat |
| 2022-09-08 | 3.25 | Bank for International Settlements - Central Bank Policy Rat |
Get it programmatically
curl https://usaref.dev/v1/ca/policy-rate
# $0.001 per call — x402 on Base (USDC). No key, no signup.
# History: curl https://usaref.dev/v1/ca/policy-rate/history?from=2020-01-01
# Provenance: curl https://usaref.dev/provenance/ca/policy-rateOther Canada series: VAT rate · minimum wage · public holidays · inflation rate (CPI) · corporate tax rate · income tax rates · official exchange rates